FX.co ★ Analysis of Gold for June 17,.2022 - Potential for the downside rotation

Technical analysis:

Gold has been trading upside yesterday but I potential for the downside rotation today due to overbought condition.

Trading recommendation:

Due to the overbought condition on the Stochastic and rejection of the upper trend-line, I see potential for the downside rotation.

Watch for potential selling opportunities on the intraday rallies wit the downside objectives at $1.815 and $1.800.

Stochastic is showing overbought condition and fresh bear cross,which is sign for the downside rotation.

Key resistance is set at the price of $1.876